-PTI The Prime Minister's Economic Advisory Council today projected 3 per cent growth for the farm sector in 2011-12 buoyed by record grains output, strong growth in horticulture and animal husbandry sectors. Last year, the agriculture sector had grown by 7 per cent. "The Council expects that in combination with the strong trend growth in horticulture and in the animal husbandry sectors, the overall farm sector GDP growth for 2011-12 will average 3...

Farm technologies are not reaching farmers on the ground, Prime Minister Manmohan Singh observed here on Monday and said “it represents the failure of the system.” He was speaking at the Golden Jubilee convocation of the Indian Agricultural Research Institute (IARI) here. The annual farm growth rate was expected to be 3.5 per cent in the 12th Plan period ending this year, he said, but there was concern over the gap between...

The huge expenditure on the food bill, with the attendant leakages, could well make fiscal recovery impossible In the first part of this article, we have estimated the actual cost of implementing the food security bill in its current form. In this part, we now examine the fiscal sustainability of the same. The current state of the revenue and expenditure trends of the Central government (refer table) show that while revenue...

-The Hindu Inclusive growth can be possible only in an inclusive society, Bhalchandra Mungekar, president, Institute of Advanced Study, Shimla, said on Monday. Scheduled castes and tribes, and minorities constitute a majority among the people below poverty line, accounting for one-third of the country's population. Existence of 40 crore people below poverty line even 60 years after Independence was a cause for immense concern, Dr. Mungekar said, cautioning that the situation was...

The advance estimate of national income in 2011-12, released recently by the Central Statistical Organisation points to a decline in India’s GDP growth rate from 8.4 per cent last year to 6.9 per this year. The government, obsessed with growth rates, is deeply disappointed. Hence there is already talk of the need to respond and demands that the Reserve Bank of India should reduce interest rates are being heard. There...